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Dollar Strength a Headwind to CEE

CEE FX
An uptick in EURHUF, EURPLN and EURCZK has been noted in recent trade. The former has now pared its earlier losses and stands 0.10% in the green, while EURPLN and EURCZK have both recorded intraday highs. The moves do not appear to be driven by any specific headlines, though the steady uptick in the DXY index is hampering EM FX more broadly.
  • PLN is the notable underperformer in the space. The EURPLN cross is at its weakest since last Thursday while PLNHUF and PLNCZK are down 0.35% and 0.29%, respectively.
  • The CNB rate decision is the key risk event across the regions (1330BST/1430CET). The Bank Board is expected to discuss strategies for future monetary easing, while leaving interest rates on hold for now: https://roar-assets-auto.rbl.ms/files/55906/MNI%20...

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